Hudson’s Bay to shut Dutch unit, dismiss 1400 workers

Bloomberg

Hudson’s Bay Co’s European adventure is nearing an end, as the Canadian retailer plans to close its 15 Dutch department stores, Het Financieele Dagblad reported.
The company will shut the stores and dismiss the workforce of more than 1,400 by the end of the year, the Dutch newspaper said, citing a letter from Hudson’s Bay. A spokesperson wasn’t immediately available to comment.
The owner of the Saks Fifth Avenue department stores entered Europe in 2015, buying Germany’s Kaufhof chain, and began the Dutch operation in 2017.
It had a plan to open 60 Dutch department stores and generate $1.1 billion in revenue, the newspaper said.